The Fight for Tax Reform Will Be Long and Arduous
Is it starting to feel like the process to simply put up a new stop sign in the Nation’s Capitol would take an act of Congress? These days nothing is simple in Washington and when it comes to tax reform the battle will be anything but easy.
When President Trump took office it was widely believed that tax reform would be fairly simple and would come with only minor headaches. With the Senate and Congress both controlled by republicans, tax reform was just a matter of when, not if. Well, not so fast.
If you thought the battle for healthcare reform was tough, the nation’s lawmakers are just getting started. The interesting thing is, the tax reform battle isn’t just a matter of party lines. Republicans are very divided on tax reform, including what changes to make and how to pay for them.
There are several overriding factors that could delay tax reform even further, not to mention that another election cycle is coming up. First off, Congress needs to pass a fiscal budget for 2018 before it can take on tax reform. Secondly, republicans are divided over whether they should seek a tax cut or complete tax reform.
The battle over many long-standing tax incentives and breaks is also a big sticking point. Additionally, Obamacare is still unfinished business and it is looming over the current administration. Some lawmakers, including the president, are still focused on resolving that matter first.
Therefore, those still hoping for, or expecting, tax reform this year better prepare to curb their enthusiasm. This looks like another long journey with many twists and turns.
Revocable Living Trust: Family Financial Security
Revocable Living Trust: Family Financial Security The times in which we live have brought new uncertainty and increased anxiety to our front doors. With the threat of terrorism and the reality of war, our safety and that of our loved ones are at the forefront of our concerns. For many a continually disappointing investment environment…
Municipal Bonds: A Source of Tax-Free Income
[vc_row][vc_column][vc_column_text]There’s one readily available and legal source of untaxed income that we know of: municipal bonds. These securities are issued by state and local governments, school districts, hospitals and other public agencies to support community projects and services. To permit these worthy endeavors to raise money economically, Uncle Sam exempts the interest that they pay…
Employers Offer Incentives for Weight Loss
Employers Offer Incentives for Weight Loss Looking to get some extra cash from the boss? Forget logging long hours, brokering that big deal or sucking up at the company holiday party. Employer weight loss programs Employers have begun dangling big incentives, such as cash bonuses and paid days off, to encourage workers to lose weight.…
“Values-based” Estate Planning
[vc_row][vc_column][vc_column_text] There are many facets of estate planning. Certainly, it’s important to craft a will that delineates how the fruits of years of hard work will be distributed to your loved ones—fairly and harmoniously. And, of course, crafting strategies that will maximize what you pass on at the minimum tax cost is an important goal.…